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the chairmen write a budget that balances that would make this economy much better. and i thank the chair and will yield the floor. the presiding officer: under the previous order, the clerk will report the amendments that are in order en bloc. the clerk: the senator from nevada, mr. reid, proposed amendments en bloc for mrs. murray, amendment number 433 for mr. hatch amendment number 297, for ms. stabenow amendment number 432, for mr. grassley amendment number 156, for ms. mikulski amendment number 431, for ms. ayotte amendment number 158, for mr. cruz amendment number 202, for mrs. murray amendment numbered 439, for mr. crapo amendment numbered 222, for mrs. she haoepb amendment -- shihan amendment number 438. the presiding officer: the senator from washington. mrs. murray: mr. president, i want all of our members to understand that the second amendment that we will be voting on tonight is the ryan budget. there seems to be some resistance among my republican colleagues in bringing up the house republican budget for a vote, and it's pretty easy to see why that is. last year's house repu
american companies are doing well and the economy is starting to look up, but there's no denying this it rally is in large part fuelled by the fed, which has kept interest rates so low you can't make money anyone other than than the housing and stock markets. to help prop up the down economy, the fed has been pumping money into the system every month in exchange for bonds. that increases the money supply. it drives down interest rates. for awhile now shs the fed's funds rate and other loans that americans use to raise money that be at near zero. the hope is that banks and other lenders will use this cash to lend to consumers and businesses. borrowers will purchase homes and cars or start new businesses and get the economy churning again. it's been working. home prices are rising again due to low mortgage rates. more americans are finding jobs again. it won't stop printing until the unemployment rate dips below 6.5% which means the fed's will be at it until 2015. the flip side to the fed's action is that investors in bonds and interest baring accounts have suffered. it's a low-int
to be fiscally responsible and reduce the deficit. to make velft to grow our economy and to meet our obligation to our seniors, to our families and to our future and the republican budget fails all three. republican budget threatens our nation by undermining our economic growth and by shifting the financial burden for the deficit, and the deficit reduction, to our seniors and the middle class. republicans have made their choices clear, end medicare as we know it, adding costs to seniors today and ending the medicare guarantee tomorrow, slashing investments necessary for economic competitiveness and giving millionaires an average of $400,000 in tax breaks. republican budget eliminates protection for millions of our sickest seniors who depend on nursing home and home health services and republican budget will increase taxes for average middle-class families by $3,000. their choices will cost two million jobs next year alone and decrease economic growth by 1.7%. in contrast, the democratic alternative present serves -- preserves the medicare guarantee and makes investments in education, innovation
to the economy. the economy needs financial assistance from the outside from the european union and i'm afraid the people running the show presumably the germans in the first instance have decided greek depositors should take a hit. the way that played out at least over the weekend was all depositors would take a hit of some kind no matter how small their deposit. it sales to be now an attempt to back away from that and focus on people with deposits over 100,000 euros targeting in part russians who hold a large amounts of money, claims on those cyprian banks. >> rose: when that happened what was the talk in the financial community citing your com a couple quotes one from dennis gotman the binging has been shaken to its roots. the banking depends on trust. he wrote a note to his clients trust that has now been shattered, broken and destroyed. jim o'neal at goldman sachs says astonishing with very little thought of containing. >> bailout 101 is you want to keep the money in the banks. you want to avoid a run on the banks. you want to avoid where people are standing outside wanting their cash be
laugh. we'll get his prediction where natural gas prices are headed next. >>> not even a down economy can crush rock and roll. legendar kiss rockers gene simmons and paul stanley kick off a big expan shun of their restaurants. they're here in first on fox interview to tell us why now is the time to bet on the consumer. even when they say it's not it is always about money melissa: first let's turn to today's market moment. fears over cyprus's bailout led to a choppy day of trading on wall street. the dow managed to eke out a slight gain wi the nasdaq and s&p 500 posting minor laws. the s&p fell for thehird straight seson. that is the worst losing streak of the year. microsoft could be in some hot water with the justice department. microsoft and some of its business partners are being investigated over a foreign bribery claims. government officials in china, italy and romania were allegedly bribed to earn software contracts but shares of microsoft still managed to close the day up slightly. >>> all right we start tonight in cyprus. th parliament rejected the tax on bank deposits, potent
cyprus get to this point? >> it is a small country. its economy is based on three things. tourism, a very pleasant place for people to go. shipping, as befits an island. above all, what is euphemistically called finance. in the 1990's and early in this century, what the banks in cyprus did was offer themselves around the world as a wonderful place to come and make a deposit. we will convert whatever currency you have into euros, which is a very good currency to have. we will pay you an unusually high interest rate and ask no questions. this is often called good banking. they got a lot of deposits. depending on the estimates you believe, the total deposits in the bank of cyprus or five to eight times larger than the total gdp of that economy, which is an absurd situation. and those banks in cyprus took all of those deposits and they did what banks are supposed to do, find prudent, safe, non- risky investments. like all the banks and the last 20 years, they failed. they found that investments. they did not to prudently. the banks fell apart. the whole cyprus economy, already impacted by thi
it is important to realize that it is possible to make investments in our economy today, create jobs, repeal the sequester, and still reduce our deficit in a responsible and laled way. -- and balanced way. in closing i urge my colleagues not to be scared by the rhetoric that sometimes we hear. instead, i urge my colleagues to support one of the multiple budget proposals that reduce our deficit responsibly while creating jobs today and protecting the important programs like medicaid and medicare for generations to come. i yield back the balance of my time. the speaker pro tempore: the gentlelady yields back her time. the gentleman from georgia. mr. woodall: thank you, mr. speaker. i yield myself such time as i may consume. i thank the gentlelady for being with me on the floor today. i'll say that we sometimes have some controversy in the rules committee, mr. speaker. there is a lot of responsibility that lies in the rules committee. with 435 folks here in this chamber. we all would like to have our say. we'd all like to have our say probably more than once. and the rules committee's tasked wi
our ailing economy and certainly not the answer for the hardworking folks back home in wyoming. when you start with one party doing the drafting and those who wrote the budget hold the majority on the budget committee, you can expect the bill to be one-sided. if you keep on doing whatever you a been doing, you can expect to get the same results. unfortunately, i believe that's what we'll see this week as we debate the budget here on the senate floor. the majority kept us in the dark on the budget until the last -- until last wednesday evening. we had to present our opening statements in the budget committee before we even sue the budget the majority -- even saw the majority the budget would offer. i do have to say in the defense of the majority that that's the way it's been for several years, both when the republicans were in charge and when the democrats are in charge. thea's thacharge that doesn't mean it is right. you have to share it. so then we had to turn around and start voting on the amendments the next morning in the budget committee and we weren't part of that process, beca
say that cyprus' economy is going to be in significant peril in the future. >> warner: and i gather a lot of these big depositors are russians, other foreigners? how much is known about them? >> a lot of the deposits particularly at the major banks are certainly from russians. cyprus has, you know, a long history with russia. in recent years, we had a lot of russians coming to this island basically sort of seeking a safe haven for their money, given some of the instability in russia. what has happened, however, is that that has drawn suspicion over time that, for example, some oligarchs or even some money of questionable origin is in the banking system. that's one reason why european leaders and particularly chancellor angela merkel wanted to take a much closer look at cyprus' banking sector as a part of this whole bailout. >> warner: how fundamentally will the cyprus economy be restructured or changed? >> the cyprus economy basically lives and breathes on finance. ever since it joined the european union it has shifted away from an economy that had produced a lot of goods over many
reserve's two day meeting on the economy wraps up. that begins at 2:30 eastern time. >> coming up, the head of immigration and customs enforcement testifies about the release of nearly 2000 immigrants because of budget constraints. the 2014 budget plan put out by chairman paul ryan would balance the budget in 10 years and put in place medicare changes. the chamber should finish work on boating on the measure on wednesday. here is tuesday's debate. mr. ryan: i bring forward and present the budget resolution for the fiscal year 2014. we believe that we owe the american people a responsible balanced budget and that is precisely what we are bringing to the floor today. our budget balances the budget within 10 years and it does so without raising taxes. balancing the budget will help us foster a healthier economy, it will help us create jobs. in fact, two leading economists released a study analyzing our budget and its positive effects on the economy and jobs. in the first year they said it would, quote, boost the economy immediately, increasing both of our economy by a whole percentag
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the economy grow more and more jobs be created because we have had the slowest recovery during this recession since any time after the world war ii, at least. very, very slow. but we have done something to a degree we have never done before, and that is borrow and spend to stimulate the economy. and someone has compared borrowing and spending to stimulate the economy to the idea of someone taking a bucket, scooping up water in one end of the swimming pool and pouring it into the other. you have got no net gain. the truth is you lose some of the water out of the bucket as you walk along the shore. in this case what we lose is, we lose interest on that debt indefinitely because there's no plan to pay down the debt. so this budget that's before us today does not balance, it does not put us on a sound path, it does not create confidence in the -- among the american citizens that the future is going to be sound, that we've gotten this country reoriented in a way that's going to produce long-term growth. indeed, it's going to do exactly the opposite. it's going to do exactly the opposite. it's goin
we all want to go. wwe want to have a growing economy, weal we want to deal with our deficit. these are challenging, complex goals. we can get there. even the action of this body last night in passing the fyn.2013 appropriations bill shows we can cooperate together and with the thousands get there. it is my hope that that will inspire us going forward. the question is this: we all agree that what has been done thus far in the area of deficit reduction equates to about $2.4 trillion of deficit reduction that has been done by the last congress, including the deal on the bush tax cuts that were made at year end. $2.4 trillion of deficit reduction over the next ten years. and all also agree that $is.8is- that $1.8 trillion was gutting expenses and a little more than $600 billion of this was revenues achieved through the year-end bush tax cut deal. so everwhelmingly what has been done thus far has been in spending cuts rather than new revenues. it is very important for us to know that. it is very important for folks to realize that democrats are willing to make are hard calls abo
%, which meant it was getting broad support from all sectors of the economy. i did make a mistake, which was turning it over to iraqi politicians. i should have turned it over to judges, people who did not have a political ax to grind. on the army, there was no question it was the right thing to do not to recall the army. we should have not said it was disbanding it. the pentagon said it would be self-demobilized. it would have been a big mistake to have called the army back. it would have led to the break up iraq. the kurds were very clear they would secede. when we did try to bring back a single battalion in april 2004, it went immediately over to the insurgency and started shooting at americans. it did not work. building the army from the bottom up -- a new army from the bottom up -- was the right path. today, the iraqi army is the most respected institution in the country. >> when you look back your tenure in baghdad, it was a difficult time. are you proud of what you did? >> i am satisfied. proud is probably going to far. i think that the 3000 civilians who work in the cpa from 25 d
correction? with the rising economy and profits this rally still has legs. also in year three of obama care premiums and insurance costs are rising sky-high. so are taxes. and small business costs are reducing profits by as much as 65% according to one small business owner we will talk to tonight. and the virtues of a free market capitalism that we talk about every night on this show are now forbidden fruit at stanford university. a popular long running pro capitalist course at that school has now been cancelled. what is up with that? "the kudlow report" begins right now. >>> first up, a major vote in the cyprus parliament helping to get that country closer to a teal with the european union. michelle caruso-cabrera joins us from cyprus again this evening with the very latest. good evening, michelle. >> reporter: larry, lawmakers here in cyprus taking a huge step tonight to prevent the financial collapse of their country. they pass ad law that will allow for the restructuring of their banks. this essentially means their sickest and largest banks will be down sized and made more healthy. this
economy. its banks are not highly connected with the rest of the international financial system. there is no risk of contagion here. >> adam, actually, of all the ideas you laid out, which do you think is the least bad of all those solutions? is it going ahead and letting the banks fail? >> that would be my preferred route. failure implies that the banks can't pay their depositors. they are restructuring. they will be very orderly. basically, the banks would be closed for two days. what would come out is when they reopen, the depositors would be the large depositors because the small depositors would be fully protected. the large depositors would be the owners of a bank and they would have deposits of somewhere between 50 1k3 60 or 70% of their money and the rest of the shares in the new bank. the banks would be solvent. the banks could be highly capitalized and they would then have access to the ecb for refinancing to provide any liquidity. >> and the fallout from that would be that the russians -- >> and basically -- >> the fallout for that is that the russians are the ones wh
on the economy, the market, and the fed next. ♪ ♪ lou: ben bernanke's federal reserve keeping money cheap, plentiful. chief economist for ubs will tell us whether this is sufficient magic for the market through the remainder of the year. let's take a look at what happened on wall street. today's talks are moving higher. investors expecting just the news that they received, the fed's standing fast, holding steady, helping -- keeping 85 billion a month into the markets in perpetuity. the dow up 56 points, but within 20 points of its all-time high setting a new intra-day record. the s&p up ten points coming within seven of its record high, the nasdaq up 25 them. the nasdaq still some 1800 points away from its all-time high close. over 3 billion shares traded on the big board. gold down $3.80 today, we'll update, interest rates moving slightly higher on the bond market's the treasury ten year holding up till 194. fed chairman ben bernanke warning monetary policy, as he put it, cannot offset fiscal restraint resulting from the fiscal cliff and sequestered. my next guest says economic damage fr
to the sequester republicans will not replace. just as the economy is improving for our neighbors and small businesses back home. in contrast, the democratic alternative will cren rate 1.2 million more job, stop the sequester and in committee, democrats proposed to close those special interest tax loopholes that riddle our tax code, republicans said no. democrats proposed to offset unwise republican cuts to medical research like alzheimer's, cancer, diabetes research at n.i.h., republicans said no. democrats tried to cut the special interest spending in the tax code to offset republican cuts to students who rely on pell grants but republicans said no. mr. van hollen: i yield the gentleman another minute and a half. the chair: the gentleman is recognized. ms. castor: the democrats in the budget committee proposed to strengthen medicare and replace the republican plan to turn medicare into a voucher program. all it does is simply shift the cost tour families and older neighbors. mr. speaker, this republican budget is not consistent with american values. it is not fiscally responsible. it is a
bernanke will keep printing to bail out barack obama's weak economy. and print as many yen as it takes to bail out japan. the markets truly love it. europe is the odd man out. they've given ultimatum to cyprus, no bailout if you can't get it together by next tuesday. here is something else to get you fired up. cyprus wants to nationallize y payshun money. "varney & company" is about to begin. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futureses move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >> thursday, march 21st. m headline today, ben bernanke
[inaudible] >> in the supermarket, there's evidence of a cash economy expanding. >> we have suppliers demanding cash. not all of them but some are in a panic situation and are demanding cash payments. >> so everyone is waiting to see whether the government can strike a deal with the e.u. by the deadline of monday and save the country from bankruptcy. the challenge for cyprus and its parliament is how to raise nearly $6 billion and so qualify for a full zureo -- eurozone bailout. the problem is there is tension between cyprus and germany. only today angela merkel was warning that patience has its limits. banking would be restructured with smaller bank accounts protected but larger accounts possibly taking steep losses and there might still be a tax on savings. it was rejected once but might be applied to big deposits. every move is controversial. these bank statue were blocking the roads today. they fear restructuring the banks will lead to layoffs. >> they fear they won't have a job. what do you think will happen? >> whatever is decided here will still have to win the approval of the
these kind of revolution that shifts fundamentals of our economy. you look at the industry evolution, the introduction of the automobile, all these changes in our society are powered by exponential technology, which changes the pace of everything from how we communicate and how fast we expect people to respond to things, to our political system and the pace of how quickly things happen and being on constant -- in a constant feedback loop. the ability to trade stocks in nanoseconds. so, millenials are at the forefront of that. we understand that as reality. so, other generations are running around saying, how do we adapt? good forward any fast-paced world. the millenials are taking it all in stride because that's the reality of how we agree up, and also brought the sense of ease and adaptability and the ability to be resilient, the economic crisis, which, wow, has led to incredible youth unemployment, and incredible debt for young people. young people are optimistic about their long-term economic future because they see in one year it could be totally different. we saw how quickly it
to give the state all of our resources which would be at least 3 billion euros to help the economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of course that
schoolers? the right answer later in the grapevine. up next, the state of the u.s. economy. what are the chances of another recession here? for over 75 years people have saved money with...ohhh... ...with geico... ohhh...sorry! director's voice: here we go. from the top. and action for over 75 years people have saved money with gecko so.... director's voice: cut it! ...what...what did i say? gecko? i said gecko? aw... for over 75 year...(laughs. but still trying to keep it contained) director's voice: keep it together. i'm good. i'm good. for over 75...(uncontrollable laughter). what are you doing there? stop making me laugh. vo: geico. saving people money for over seventy-five years. gecko: don't look at me. don't look at me. by the armful? by the barrelful? e carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. >> bret: no major changes on the horizon in how the federal reserve is dealing with the economy. while fed chief bernanke says things are getting better not eve
safe financial move it could hurt young adults and economy as a whole. brenda buttner, anchor of "bulls and bears." i guess it's a story here is that young people are avoiding debt and not getting sort of themselves mixed up in some of these predatory practices that young people have been the target in the past. so had a part of the story is good, right? >> absolutely. during the great recession everybody stopped using their credit cards but particularly those under 35. especially undergraduates as you brought up. in a sense that is good, whenever you hear from a personal financial expert, get some extra money, pay off your credit card debt, but having no credit and misusing credit are two different things and could have potentially difficult implications for our economy and for these young adults. >> rick: i remember my mother telling me, go and get one credit card, buy something you need but get your books and put it on the card and then pay it off in full. that is the way to start establishing a good credit? >> who is your mom. eileen -- that is good advice to your son. that is exact
this. gallup, fox news, rasmussen, after the economy, the number two concern to the people is the debt. i think there is a growing sense that government spending and government debt at these levels, it does act as a huge drag on the economy. connell: what we have been saying here, unless the interest rates start to go up, you can pull people and they can say whatever they want. their behavior will not change unless you see a spike in interest rates. >> it will be hard to get a spike in interest rates with the fed flooding the system with liquidity. the whole world is on painkillers right now. we have become addicted to liquidity, easy solutions and until the fed start to bring it in and interest rates go up, i do not see a change. dagen: do the people who are still buying taxable debt, you start to see money flowing back into u.s. stock. you see billions every week into world stock. >> i think we are somewhere close to the end of a bond bubble. for the third time in 60 years, we are looking at ten year treasury rates below inflation. that is, obviously, not a way to build over time. we
. the economist is out with a report on our economy's saying that our economy is in better shape than you think. we're back with that in a moment. first, i want to give a shout out to my grandmother mabel. she convinced her nursing home to switch cable providers just to see the cycle every day. go, mabel! [ jackie ] it's just so frustrating... ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daughter. ♪ so today, i'm finally talking to my doctor about overactive bladder symptoms. [ female announcer ] know that gotta go feeling? ask your doctor about prescription toviaz. one toviaz pill a day significantly reduces sudden urges and accidents, for 24 hours. if you have certain stomach problems or glaucoma, or can not empty your bladder, you should not take toviaz. get emergency medical help right away if your face, lips, throat or tongue swells. toviaz can cause blurred vision, dizziness, drowsiness and decreased sweating. do not drive, operate machinery or do unsafe tasks until you know how tovia
economy. that is the real engine of the economic prosperity. >>> plus the supreme court this week will hear two important cases concerning same sex marriage. shouldn't the black robe masters leave the important social decisions to the states and their democratically elected legislatures or referenda? let the people decide. "the kudlow report" begins right now. >>> first up, in recent weeks, he's become a conservative super hero icon. that following his triumphant speeches at the national prayer service and the cpac political conference. dr. ben carson has a message to roll back obama care, deal with the crushing national debt, and even a bib llically based call r a flat tax. that's what i love. is he the conservative that can save the gop? here is the aforementioned dr. ben carson. director of the pediatric division at john hopkins university. and with us this hour, cnbc contributors keith boykin. as always, dr. carson, great to see you. i'm reading one of many articles that you're retiring in 100 days. i wonder if you would share future plans, especially public service. >> i have
country at the forefront of the global economy. israelis understand the value of education and have produced 10 nobel laureates. [applause] understand the power of invention and universities educate engineers. that spirit has led to economic growth and progress. ,olar power, electric cars synthetic limbs, stem cell research that treat disease. computer technologies that change the way people around the world live. if people want to see the world of the future economy, they , home ofok at tel aviv research centers and startups. [applause] are active on social media. every day seems to be a different facebook campaign on where i should give a speech. [laughter] [applause] that innovation is as important to the relationship between the united states and israel for security. our first free trade agreement in the world was reached with israel, nearly three decades ago. twoy the trade between our countries is at $40 billion every year. [applause] more importantly, that partnership has created new products and medical treatments and pushing new frontiers of science and exploration. that is
on the economy, the market, and the fed next. ♪ i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®, works for thousands of home businesses. because at usps.com®, you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. ans
really suffered greatly throughout this week, as we noted. the economy in cyprus, is going to continue to drop. 10 to 20% is likely. this is a country that was glowerrishing before -- fluorishing before it joined eurozone, but now cyprus is taking a hair cut for greece, and greece for cyprus, and the troika is coming in to help. you cannot just jump out at this time. yet there is no room for nail failure, they are not printing more money, they will severe draconian measured. severe austerity, one country at a time, in the meantime people are weeping, imagine everything you have known to be true, is not true any more. neil: if you think about it, ty. you are a big investor, and world renounce, a lot of folks in europe, their bank acount is everything, their savings are there their vestments are in glorifies pass book savings accounts, that is it. so a trust has been broken to say nothing of the trust in european club, to keep it going. i think when you let people down, when you scare them, when you break a trust of confidence it is really katie bar the door, isn't it? >> i don't think t
the depth and length of this weak economy. in some ways the strongest argument for obama to replace him is a partisan argument. there have been republicans in this job now for more than 20 years. and i think democrats may not want the fed chairman job to be something that is seen as a republican job. now, bernanke is, of course, being criticized much more by republicans than democrats will at this point but he still is originally a republican, there are some, geithner, and summers, and including in blinder who would be serious candidates if persh key were to leave. >> rose: your thought, sir? the scuttlebutt from everybody is that he'll probably have snuff after eight years. i do believe that if he wants a third term and he asked the president for it, he'd probably get it for the reasons david said. he's done a very good-- never mind personal, never mind republican. he's just done a very good job. as david said, he's got republicans a lot angrier than teams, even though he came into this job as a bush appointee from the republican side. so i think if bernanke is an eight-year chairman,
. connell: highest level close to five years. the economy may be improving. the problem for president obama is his approval rating is not. 47% of americans approving. doug shaw is here to answer that. a record-breaking run last week. you have home production neared the unemployment rate falling. >> first of all, we have dysfunction in washington. we do not have a budget deal. economic growth was tested in the fourth quarter. there is no sign that it is reviving. there really is no revival on main street. connell: is there something politically bad be done? is there something they are not doing right? shouldn't they be better able to take advantage of the perfect stock market and little bit better economic numbers? i think the president is trying to do that now, connell. reaching out to the public senators and paul ryan. we made a deal on the but with newt gingrich. the same thing needs to be done now. dagen: something really struck me. i do not mean to harp on it. the average american wakes up in the morning, you tell me how he feels or she feels that deficit with the daily impact. you kind
food assistance to kids in this country and funding for r&d will drive our economy, but we can't appropriate a sum of money to fix the real cost of iraq. can't pay back the lives of 4,486 american men and women who have died there or the roughly 2,000 broken soldiers who came home and took their own lives. the wounded, physically and mentally, the soldiers who didn't know how not to be a soldier, the families living with a hole in their hearts and the families living with someone they no longer recognize. 10 years leaving their families, living in hell, coming home to unemployment and the homelessness, to a country that's forgotten that it's at war at all, to a country that seems to think a yellow ribbon magnet on their bumper is the only kind of support that oir troops need and the cost in iraq, untold deaths. let me rephrase that. unknown deaths. we can only guess at the destruction that we have left in our wake. 115,000 iraqis, 600,000, you can find the number, what was the long-term impact of that on the environment, the water and health? what happens when someone lives in
and chemical weapons. and also the bernanke conversation today about the economy and the role of the federal reserve when we continue. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: the syrian conflict reached new levels this week. the assad regime and the syrian opposition groups accused of each other of using chemical weapons. the allegations were made only hours before president obama's departure to israel yesterday. the white house has yet to verify the claims but lawmakers are increasingly calling for action. here's what presidentbama said eaier day in a joint press conference with israeli prime minister netanyahu. >> with respect to chemical weapons, we intend to investigate thoroughly exactly what happened. obviously, in syria right now, you've got a war zone. you have information that's filtered out. but we have to make sure that we know exactly what happened, what was nature of the incident, what can we document, what can we prove. i've instructed me teams to work closely witll oer countries in the region, and internatio
a balanced budget and it's important we owe the country a reasonable plan and grows the economy. balancing the budget is not just a statistical exercise it's the necessary means to a healthier economy, it creates more jobs and helps people keep more of hard earned money and a contrast to the other budgets that are passing. at least budgets are passing here for a change, but all the other budgets have trillion dollar plus tax increases and have net spending increases and when he you have a trillion dollar deficit, we need to work on our spending and when the other side is offering even more spending increases and even more tax increases, more borrowing, we're still kind of worlds apart. >> greta: i went through the budget and it's very complicated, at least i think it's complicated. and i want to go to different provisions i understand. let me start with medicare. under your program it doesn't affect anyone over age 55. >> if you're born in 1958 or earlier, it doesn't affect you. meaning you stay in the current medicare program just as it's designed now. in addition we get rid of the obamac
against iran have been effective. he said this was due to the iranian economy is over dependence on oil. he said he was not opposed to direct talks to america about iran's nuclear program. >>> the european union has given cyprus until monday to raise 6 billion euros or risk losing a bailout fund. after public outrage on the island, the government backed away from the planned, asking all bank depositors to pay a one-off tax. now have to come up with the money some other way. gavin hewitt has the latest. >> there is anger and anxiety in cyprus. this was a crowd of bank workers blocking access, and arriving mps had to be lifted over police barricades. protesters fear their bank will collapse. were shaken. why did they shout at you? >> because they're losing money. linesing the day, long had formed at the cash machines as the government's scramble to raise billions of euros to avoid bankruptcy. the lines mainly focused on one bank, rumored to be in difficulty. >> there is a rumor that if somebody does not buy it, it will close. >> at 1 cash machine, they posted the time when there would be
's face it. cyprus is a small economy. the smallest thread can unravel the entire tapestry of the euro zone. the size of cyprus is not the point here. the point is the principle, precedent and risk of contagion spiralling out of control. >> that's how we see it here. thank you, charles dallara. now it's time to ask the money question. will cyprus and the eu woes kill our economic optimism? we'll debate that next up. the real loser could be crooked russian billionaires whose money-laundering operations in cyprus run the country. that's why vladimir putin is so angry about this bank tax. feel like capitalism may be the best bet to prosperity, but there is not one ounce of free market capitalism in this cyprus story. i'm larry kudlow. we'll be right back. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it ge
a campaign on jobs and the economy, jobbing and the economy, jobs and the economy and beat that drum until i beat people into sleep. that's part of it, all right, but all of the rest of this has to be added together, or we can never reconstruct this country. we will not get the pillars of american exceptionalism back together. [applause] unless we have the full spectrum. if we can restore our families and strengthen our faith and protect innocent, unborn human life instead of assaulting it with a half a billion dollars appropriated to planned parenthood in a single year. that's gotta go. obamacare has got to go. [cheers and applause] we can't let up on obamacare and believe that somehow we're going to capitulate to that side because the roads are vitality, and it is an unconstitutional taking of god-given american liberty, and it's got to go. [cheers and applause] ronald reagan omelet me down a couple -- only let me down a couple of times in eight years. one of those was 1986, and i still had the dent after i heard on the news he had signed the amnesty act of 1986. but it was on the promise
, it adopts the european style austerity approach that we've seen slow down economies in many parts of europe. we should instead be focusing on job growth and putting people back to work rather than a budget like this budget which will result in 750,000 fewer americans working by the end of this year. that's according to the independent nonpartisan congressional budget office. and it will result in more than two million fewer people working next year. it also fails the test of taking a balanced approach. because it is founded on the failed idea that combiffing another round of tax cuts to people at the very high end of the income scale will somehow trickle down and lift up all the other votes. but we know that hasn't worked and yet it is pursued once again such that everybody in e republican is asked to folks at the pt top. we offered, we democrats offered an amendment in the budget committee to say don't increase taxes on middle class americans and all the republican colleagues voted no. it it is based on the idea that we should dramatically cut investments that are important to help our eco
. no doubt about that. it could hurt the economy by ten gdp points. joblessness but the banks were going collapse anyway. the economy would be in shambles anyway. there is concern that the depositors are hurt, because what is happening is if you have more than 100,000 in euros in the bank, those are targeted to help with the bail-out. $4.2 billion. a lot of that is from russian. a lot of -- he would cry about that. this is a good thing. bail-in, instead of bail-out. you take in a model where you are forcing the bank to save itself. the shareholders, bondholders and go to the uninsured depositors. this is a lesson we might take here. rather than the taxpayers bail-out you have the bail-out within the institution. i understand the pain but i don't think it's a bad idea. >> you float the idea of going after the saving account. it doesn't rez nay with many folks. >> but they weren't insured. they weren't insured over $100,000. here they aren't over $100,000. you know, you know when you put something in a bank like, that i covered the savings and the loan crisis in '80s. people were hurt in t
coming up. in the next hour we're going to be talking the economy and the dow with jennifer ericsson from the center for american progress, and then we'll talk about cpac and james homan was at cpac and he'll be here in studio with us. the president is kind of kicking back this morning. he has private meetings in the morning, getting the daily briefing and then at 4:40 this afternoon we'll be delivering marks at a women's history gathering. another hour of the "full court press" coming up. [♪ theme music ♪] >> bill: good morning, everybody. itit i is s mondayayararchch 1 18th. welcome to the "full court press" here on current tv. we're bringing you up to date on all of the latest developments here in our nation's capitol, around the country and the globe, whatever is happening we'll tell you about it. and you get to tell us what it means to you by giving us a call at 866-55-press, joining us on twitter @bpshow, and there is a civil war among republicans. sarah palin said karl rove if he's so smart he ought to go back to texas and run for office, and karl ro
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
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